Common use of Terms of Payment and Billing Clause in Contracts

Terms of Payment and Billing. a) In compliance with the Business Terms, the Balance Responsible Party is obligated, within 10 days after this Agreement has come into force, to establish with its account maintained by a bank or its branch in the territory of the Czech Republic cash collection rights for the Market Operator and its accounts No.19-5582760247/0100 and 27-5868540207/0100 and to provide the Market Operator with proof of having established these rights. b) The Balance Responsible Party is obligated to hold in effect its bank account and cash collection rights established with its account for the Market Operator during the period of validity of the Agreement and untill all financial liabilities arising from this Agreement are paid in compliance with the Business Terms. c) The Market Operator holds the rights to collect cash from the Balance Responsible Party’s account with the aim to secure due payments from the Balance Responsible Party pursuant to Articles 4 and 5 of this Agreement. d) In compliance with the Business Terms, daily settlement of imbalances for separate days of the month represents payments subject to billing. e) Settlement of payments for imbalances caused by the Balance Responsible Party is billed once a month by issuing a tax document under the terms defined in Article 9 of this Agreement. f) Payment by the Market Operator or the Balance Responsible Party arising from the relevant tax document is not overdue if the billed amount is credited to the respective Party’s account on the last day of the due date. g) In the event the Market Operator or the Balance Responsible Party is unable to make the payment by the due date or at the required amount, it is obligated to notify the other Party forthwith. Should such event occur, the right to charge late payment interest remains in effect pursuant to Article 11 of this Agreement. h) The statute of limitations for claims is 4 years.

Terms of Payment and Billing. a) In compliance with the Business Terms, the Balance Responsible Party The BMR Participant is obligated, within 10 days after this Agreement has come into force, to establish with its account maintained by a bank or its branch in the territory of the Czech Republic cash collection rights for the Market Operator and its accounts No.19-5582760247/0100 and 27-account No. 27- 5868540207/0100 and to provide the Market Operator with proof of having established these rights. b) The Balance Responsible Party is obligated to hold in effect its bank account and cash collection rights established with its account for the Market Operator during the period of validity of the Agreement and untill all financial liabilities arising from this Agreement are paid in compliance with the Business Terms. c) . The Market Operator holds the rights to collect cash from the Balance Responsible PartyBMR Participant’s account with the aim to secure from the BMR Participant due payments from as reported to the Balance Responsible Party pursuant to Articles 4 and 5 of this AgreementMarket Operator by the transmission system operator under the Market Rules. db) In compliance with the Business Terms, daily settlement of imbalances for separate days of the month balancing market with regulating energy represents payments subject to billing. ec) Payments for regulating energy are executed between the Market Operator and the BMR Participant under this Agreement through non-cash transfers to the receiving Party’s bank account. Payments due from the BMR Participant are executed through cash collection from its account and credited to the Market Operator’s account No. 27-5868540207/0100. d) Settlement of payments for imbalances caused regulating energy supplied by the Balance Responsible Party BMR Participant on the basis of BMR results is billed by the Market Operator once a month by issuing a tax document under the terms defined in Article 9 7 of this Agreement. fe) Payment of the tax document by the Market Operator or the Balance Responsible Party arising from the relevant tax document BMR Participant is not overdue if the billed amount is credited to the respective other Party’s account on the last day of the due date. gf) In the event the Market Operator or the Balance Responsible Party BMR Participant is unable to make the payment by the due date or at the required amount, it is obligated to notify the other Party forthwith. Should such event occur, the right to charge late payment interest remains stays in effect pursuant to under Article 11 9 of this Agreement. h) The statute of limitations for claims is 4 years.